Author: Tina Gasperson
According to a press release, the company issued 7.5 million shares, which were picked up by about 300 corporate and individual buyers. Underwriters set the final offering price at NOK 16, or about $2.56 USD.
Trolltech’s flagship products are the Qt development toolkit, and Qtopia, a platform for embedded Linux applications. Both are available either under the GPL or the company’s own proprietary license for those who want to use the code in their own applications without releasing them as free software.
Haavard Nord, Trolltech CEO, says the company will continue to keep its focus on customers, even though it now has shareholder concerns to consider. “We don’t anticipate that we would be more focused on our shareholders than our customers,” Nord says. “We have had several external venture capitalists and strategic investors holding shares in the company in the last six years.”
Nord says that the proceeds from the IPO will give Trolltech the opportunity to invest in research and development on new products, ultimately providing customers with more tools from which to choose. “We aim to stay innovative and state of the art,” he says. The IPO cash will also help Trolltech expand through possible acquisitions of other companies, and through good old-fashioned branding. “[It] strengthens our financial position and allows us the ability to increase our visibility and stay competitive in markets where we are entrenched,” he says. “And others will likely follow.”
By Thursday evening, Trolltech share prices were up, selling on the Oslo Børs at NOK 21, or $3.37 USD.
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